Question on OCI and agricultural land

[orl]

Hereditary Agriculture land for US Citizens or OCI holders

Does any body know the rules about owning agriculture land passed through hereditary? Can the hereditary agriculture land be sold and the amount converted officially and legally through the RBI (Reserve Bank Of India)?

Thanks in advance.

 

[ginnu]

Does any body know the rules about owning agriculture land passed through hereditary?
------------- not hereditary by inheritance.
Can the hereditary agriculture land be sold and the amount converted officially and legally through the RBI (Reserve Bank Of India)?
------------yes
Thanks in advance.

You can own the agricultural land through inheritance and can sell the land to Indian Citizen.

 

[N4002009]

Hello All,

I have a question about agricultural land and OCI status

Last month I naturalized to become a USA citizen (I was an India citizen prior to that).

I plan to apply for OCI and have a quick question. I understand that OCI cannot acquire agricultural land.

I bought some agricultural land couple of years ago as Indian citizen and still hold it. Do I need to sell or transfer it before I apply for OCI -or- the restriction for agricultural land is ONLY for new acquisitions after I get OCI granted.

Pls advise

Thanks

 

[abact]

Hello All,

I have a question about agricultural land and OCI status

Last month I naturalized to become a USA citizen (I was an India citizen prior to that).

I plan to apply for OCI and have a quick question. I understand that OCI cannot acquire agricultural land.

I bought some agricultural land couple of years ago as Indian citizen and still hold it. Do I need to sell or transfer it before I apply for OCI -or- the restriction for agricultural land is ONLY for new acquisitions after I get OCI granted.

Pls advise

Thanks

No you do not need to sell it. Only you can not buy a new one.

 

[N4002009]

Thanks Abact